Hedeker Wealth LLC decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 25.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,891 shares of the medical research company’s stock after selling 1,319 shares during the quarter. Hedeker Wealth LLC’s holdings in Thermo Fisher Scientific were worth $1,951,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank OZK acquired a new position in Thermo Fisher Scientific in the second quarter valued at $1,096,000. Ausdal Financial Partners Inc. purchased a new position in shares of Thermo Fisher Scientific during the second quarter worth about $456,000. North Dakota State Investment Board acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $7,505,000. BlackRock Inc. purchased a new stake in Thermo Fisher Scientific during the 2nd quarter valued at approximately $15,501,867,000. Finally, German American Bancorp Inc. purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $4,920,000. 89.23% of the stock is owned by hedge funds and other institutional investors.
Thermo Fisher Scientific Price Performance
Thermo Fisher Scientific stock opened at $603.43 on Wednesday. The company has a market cap of $223.12 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. Thermo Fisher Scientific Inc. has a one year low of $435.27 and a one year high of $647.00. The business has a fifty day moving average of $575.12 and a two-hundred day moving average of $516.59. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.55.
Thermo Fisher Scientific Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.11%.
Insider Transactions at Thermo Fisher Scientific
In related news, EVP Michael Shafer sold 25,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $600.00, for a total value of $15,300,000.00. Following the sale, the executive vice president owned 20,994 shares in the company, valued at $12,596,400. This represents a 54.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa Britt sold 11,440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total value of $7,014,092.80. Following the completion of the transaction, the vice president directly owned 14,784 shares of the company’s stock, valued at $9,064,366.08. The trade was a 43.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 73,768 shares of company stock worth $44,122,820 over the last quarter. Insiders own 0.33% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Evercore set a $570.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, July 6th. Royal Bank Of Canada lifted their target price on shares of Thermo Fisher Scientific from $490.00 to $580.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Piper Sandler boosted their price target on shares of Thermo Fisher Scientific from $510.00 to $600.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Stifel Nicolaus set a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.64.
View Our Latest Research Report on Thermo Fisher Scientific
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc is a global supplier of scientific equipment, laboratory services and analytical technologies. The company serves pharmaceutical and biotechnology companies, clinical laboratories, academic and government institutions, industrial businesses and other research organizations.
Its products and services include laboratory instruments, analytical systems, reagents, consumables, software and related services. Thermo Fisher also provides laboratory supplies and equipment, bioproduction solutions, genetic analysis technologies, clinical diagnostics, specialty diagnostic products and contract research and manufacturing services through its laboratory services businesses.
The company was formed in 2006 through the merger of Thermo Electron Corporation and Fisher Scientific International.
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